First Brands Group Completes Acquisition of Horizon Global Corporation
09 February 2023 - 12:00AM
Business Wire
First Brands Group, LLC (“First Brands”) and Horizon Global
Corporation (“Horizon Global”) today announced that following the
successful completion of First Brands’ tender offer to purchase (a)
any and all issued and outstanding shares of common stock of
Horizon Global (NYSE: HZN) at a price of $1.75 per share (the
“Common Stock Offer Price”), and (b) any and all issued and
outstanding shares of Series B preferred stock of Horizon Global at
a price equal to the Redemption Price (pursuant to the Certificate
of Designations, Preferences and Rights of Series B Preferred Stock
of Horizon Global Corporation) per share of Series B preferred
stock calculated as of the closing date of the acquisition of
Horizon Global (the “Preferred Stock Offer Price”) (the Common
Stock Offer Price and the Preferred Stock Offer Price are referred
to herein as the “Offer Price”) subject to any required withholding
of taxes, net to the seller in cash without interest, First Brands
completed the previously announced acquisition of Horizon Global,
pursuant to an Agreement and Plan of Merger, dated as of December
30, 2022.
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All conditions of the offer were satisfied and First Brands
completed its acquisition of all issued and outstanding equity
securities of Horizon Global for the Offer Price. As a result of
the acquisition, Horizon Global became a wholly-owned subsidiary of
First Brands and Horizon Global’s common stock will be delisted
from the New York Stock Exchange.
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version on businesswire.com: https://www.businesswire.com/news/home/20230208005371/en/
Michael Baker, Chief Corporate Strategy Officer First Brands
Group, LLC (216) 302-2590 Michael.Baker@firstbrandsgroup.com
Matthew Meyer Horizon Global Corporation Chief Accounting Officer
(734) 656-3000 ir@horizonglobal.com
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